Law on Transfer Funds No. 3 Th 2011
Law of the Republic of Indonesia Number 3 of 2011 concerning Transfer of Funds
BY THE GRACE OF GOD ALMIGHTY
President of the Republic of Indonesia,
Considering:
a. that the transfer of funds in Indonesia has shown an increase, both from the number of transactions, the number of transaction nominal values, as well as the type of media used;
b. that along with the increase in the development of the development of funds for funds and problems that occur, it is necessary to arrange the security and smooth transaction of funds and provide certainty for the parties involved in organizing funds transfer activities;
c. that the implementation of safe, smooth, and providing certainty funds for related parties is expected to realize the smooth running of the national payment system;
d. that based on the considerations as referred to in letter a, letter b, and letter c, it is necessary to form a law on the transfer of funds;
Remember :
1. Article 5 paragraph (1), Article 20, and Article 23D of the 1945 Constitution of the Republic of Indonesia;
2. Law Number 7 of 1992 concerning Banking (State Gazette of the Republic of Indonesia of 1992 Number 31, Supplement to the State Gazette of the Republic of Indonesia Number 3472) as amended by Law Number 10 of 1998 concerning Amendments to Law Number 7 of 1992 concerning Banking (State Gazette of the Republic of Indonesia of 1998 Number 182, Supplement to the State Gazette of the Republic of Indonesia Number 3790);
3. Law Number 23 of 1999 concerning Bank Indonesia (State Gazette of the Republic of Indonesia of 1999 Number 66, Supplement to the State Gazette of the Republic of Indonesia Number 3843) as amended by Law Number 6 of 2009 concerning the Establishment of Government Regulation in lieu of Law Number 2 of 2008 concerning the Second Amendment to Law Number 23 of 1999 concerning Bank Indonesia to Law (State Gazette of the Republic of Indonesia of 2009 Number 7, Supplement to the Republic of Indonesia Number 4962);
4. Law Number 11 of 2008 concerning Information and Electronic Transactions (State Gazette of the Republic of Indonesia of 2008 Number 58, Supplement to the State Gazette of the Republic of Indonesia Number 4843);
5. Law Number 8 of 2010 concerning Prevention and Eradication of Money Laundering Crimes (State Gazette of the Republic of Indonesia of 2010 Number 122, Supplement to the State Gazette of the Republic of Indonesia Number 5164);
With the joint approval of the House of Representatives of the Republic of Indonesia and the President of the Republic of Indonesia
DECIDE:
To stipulate: Law on Transfer of Funds.
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